Market Chatter: CATL to Establish Factory in US Should Trump Allow

MT Newswires Live11-13

Contemporary Amperex Technology or CATL (SHE:300750) plans to set up a factory in the US should President-Elect Donald Trump allow Chinese investors in the electric-vehicle supply chain into the country, Reuters reported Wednesday, citing Chairman Robin Zeng.

The US government did not originally allow CATL to set up shop in the US, but they have existing production license agreements with US factories, the report said.

China-made batteries are not qualified to receive subsidies enacted under the administration of outgoing US President Joe Biden. Chinese electric car imports are also subject to a 100% tariff, equivalent to a ban, the report said.

Trump is also not in favor of Chinese EV imports, but is open to having Chinese car companies setting up shop in the US and hiring US workers, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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